1,721,010 research outputs found
CEO incentives in European energy utilities: evidence from regulated versus unregulated firms
Full text linkThis paper studies the effect of incentive mechanisms provided by economic regulation and CEO compensation in European energy firms. We investigate the differences in CEO pay-for-performance sensitivity across regulated and unregulated firms on CEO monetary incentives. Using various measures of firm performance, we find that CEO pay-for-performance sensitivity is lower in regulated companies. These results hold when we control for national corporate governance variables (investor protection, legal origin, disclosure requirements and contract enforcement). Our findings suggest that incentive compensation is a weaker incentive mechanism for firms operating in regulated and less-competitive markets
Strategie competitive ed azioni di marketing per i centri di ricerca, gli spin-‐off ed i servizi all’innovazione dell’ateneo fiorentino
No full textCentri di ricerca, laboratori e spin-off universitari svolgono un ruolo di grande importanza per la realizzazione dei processi di innovazione e di trasferimento tecnologico pubblico-privato. Utilizzando attività di ricerca sviluppate in ambito universitario, queste realtà sono caratterizzate da una forte capacità innovativa di creazione e sviluppo di nuovi prodotti e servizi. Tuttavia, proprio per questa loro natura innovativa e il forte legame con la ricerca universitaria, spesso i centri di ricerca, i laboratori e gli spin-off racchiudono in sé problematiche tipiche delle fasi di avvio di nuove imprese e di sviluppo di nuove tecnologie. In particolare, uno dei problemi più rilevanti e più frequenti che possono caratterizzare queste realtà, è quello di possedere un forte potenziale innovativo senza però avere un’adeguata capacità di formulare strategie di valorizzazione commerciale dei risultati della ricerca.
Il progetto “STRATEGIE COMPETITIVE ED AZIONI DI MARKETING PER I CENTRI DI RICERCA, GLI SPIN OFF ED I SERVIZI ALL’INNOVAZIONE DELL’ATENEO FIORENTINO”, finanziato dall’Ente Cassa di Risparmio di Firenze, ha l’obiettivo di valorizzare i risultati della ricerca scientifica e tecnologica sviluppati in ambito universitario. In particolare, il fine principale del progetto consiste nell’individuazione di centri di ricerca e laboratori universitari con capacità industriale e, successivamente, nella selezione di modalità e pratiche utili per una più efficace commercializzazione dei prodotti e servizi derivanti dall’attività di ricerca universitaria.
Durante il primo anno del progetto, il lavoro si è articolato in quattro attività:
1)Censimento e Mappatura dei Centri di Ricerca, Laboratori e Spin-off dell’Ateneo fiorentino
2) Interviste ai centri di ricerca e analisi del mercato potenziale”
3) Creazione di un modello tridimensionale di classificazione Ricerca-Mercato”
4) Business Plan di Icon e Crist”
5)Proposta creazione di un hub commerciale
The role of the state as controlling shareholder in the telecoms : incentive versus entrenchment theory
Full text linkIn this study we investigate the role played by the state as controlling shareholder in setting CEO incentives. Analyzing listed telecommunication companies from 13 European countries during 1999-2013, we measure the difference between the state and a private dominant shareholder in setting CEO compensation packages. We find that state control curbs the level of CEO compensation and this effect weakens as the state’s ownership stake increases. When we focus on CEO incentive compensation, we report that CEO pay for performance sensitivity is higher for state controlled firms than for private firms. However, as the state’s ownership stake increases, differences in sensitivity tend to disappear, but the effect of governance variables commonly used to proxy entrenchment becomes statistically significant
Incentive Compensations in Energy Firms: Does Regulation Matter?
No full textThis paper develops a link between regulation and the two main competing theories of executive compensation (efficiency vs. entrenchment view) and investigates if CEO pay-performance sensitivity differs across alternative regulatory regimes in the European energy industry. Using a panel of energy utilities from 12 EU countries tracked from 2000 to 2011, we find that managerial compensation is sensitive to performance only if the firm is subject to incentive regulation, not in the case of cost-based contracts. We also find that incentive regulation makes managerial entrenchment less likely, while CEOs subject to cost-based regulation appear to be more entrenched with the board, obtaining compensations that may even increase when (accounting) performance deteriorates
More than having a seat at the table: From bringing women into the boardroom to making their voices heard
No full textDiversity in the Boardroom: A Systematic and Interdisciplinary Review of the Literature
No full textAfter several decades of male Caucasian dominance, the composition of boards of directors has recently changed. Various factors, such as social pressure, the evolution of corporate law and good governance codes, have contributed to increase board (mostly, but not only) gender diversity. The growing prevalence of more diverse boards and the availability of data on directors’ demographics encouraged corporate governance scholars to investigate the antecedents and the consequences of board diversity. Early studies developed around the idea that directors’ diversity increases board experiences and perspectives, and so positively influences board effectiveness and corporate outcomes. The empirical evidence collected on board diversity’s impact on board and company results shows, however, only partial or mixed findings. Thus, the goal of this systematic and interdisciplinary literature review on board diversity is to understand the characteristics of previous studies and to summarize their main results. Our analysis identifies existing gaps, presents major theoretical and methodological barriers, and highlights future avenues to further advance research on board diversity
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
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